The Prime Minister’s letter is measured & conciliatory – perhaps too much so
29 March 2017
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Commenting on the Prime Minister’s letter triggering Article 50, Julian Jessop, Chief Economist at the Institute of Economic Affairs said:
“It’s disappointing that the decision to convert existing EU laws is again being justified in terms of continuity and certainty. Instead, Brexit should provide an opportunity to reduce the burden of regulation on UK households and firms alike.
“It’s also disappointing that the default option in the event of no agreement is being framed in terms of the most pessimistic WTO scenario, ignoring any benefits that might come from unilateral free trade. The UK will have the opportunity to lower barriers that prevent our consumers and businesses from accessing the best and cheapest goods and services, wherever they come from. What’s more, we should consider doing so even if other countries – including the rest of the EU – continue to embrace protectionism.
“However, it’s welcome the commitment to a quick agreement on reciprocal rights for people from the rest of the EU already living and working here and for UK citizens on the continent. Now that Article 50 has been triggered there is no longer any excuse for either side to delay. Indeed, this will be an early test of the willingness of politicians in the rest of the EU to put the interests of ordinary people above their own narrow political projects.”
Notes to editors:
For media enquiries please contact Nerissa Chesterfield, Communications Officer: nchesterfield@iea.org.uk 020 7799 8920 or 07791 390 268.
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
The IEA is a registered educational charity and independent of all political parties.
“It’s disappointing that the decision to convert existing EU laws is again being justified in terms of continuity and certainty. Instead, Brexit should provide an opportunity to reduce the burden of regulation on UK households and firms alike.
“It’s also disappointing that the default option in the event of no agreement is being framed in terms of the most pessimistic WTO scenario, ignoring any benefits that might come from unilateral free trade. The UK will have the opportunity to lower barriers that prevent our consumers and businesses from accessing the best and cheapest goods and services, wherever they come from. What’s more, we should consider doing so even if other countries – including the rest of the EU – continue to embrace protectionism.
“However, it’s welcome the commitment to a quick agreement on reciprocal rights for people from the rest of the EU already living and working here and for UK citizens on the continent. Now that Article 50 has been triggered there is no longer any excuse for either side to delay. Indeed, this will be an early test of the willingness of politicians in the rest of the EU to put the interests of ordinary people above their own narrow political projects.”
Notes to editors:
For media enquiries please contact Nerissa Chesterfield, Communications Officer: nchesterfield@iea.org.uk 020 7799 8920 or 07791 390 268.
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
The IEA is a registered educational charity and independent of all political parties.
2 thoughts on “The Prime Minister’s letter is measured & conciliatory – perhaps too much so”
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Absolutely right. The justification is being couched far too defensively, and in doing so it loses sight of the true objectives, and the opportunities that go with them. Well said IEA!
I agree – the negotiating stance of the government is far too soft. We should adopt WTO rules and have zero tariffs thus lowering the prices of goods to all consumers and making our economy more competitive.
To have a look at the positives of WTO rules and how they will benefit the UK have a look here: https://www.economistsforfreetrade.com/
Please look at the above site and educate yourselves as it appears to me that the majority of our, so called, elected representatives are either totally stupid or have a hidden agenda – either way they are not representing you or protecting the future prosperity of the UK.